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March 28, 2019

Nissan chief ‘unaware’ of Renault FCA bid

Nissan Motor CEO Hiroto Saikawa has said he was unaware of discussions about the possibility that Renault was considering a bid for Fiat Chrysler Automobiles (FCA).

By Olly Wehring

Nissan Motor CEO Hiroto Saikawa has said he was unaware of discussions about the possibility that Renault was considering a bid for Fiat Chrysler Automobiles (FCA).

When asked by Reuters whether he had heard about the talks, cited in a media report the previous day, Saikawa responded: "Not at all."

Media reports earlier said Renault intended to restart merger talks with Nissan within a year, after which it would set its sights on a bid to buy FCA.

Saikawa also told Reuters the company would "seriously consider" recommendations by an external committee on how to improve Nissan's governance, after the group announced the findings of its investigation of the company.

Nissan plans to abolish the post of chairman under a new management restructuring plan, to give way to two separate positions.

The company also plans to appoint a group of independent directors to monitor executive compensation and oversee director appointments and auditing.

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